First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Short Interest Down 57.6% in May

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - Get Free Report) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 94,400 shares, a drop of 57.6% from the May 15th total of 222,500 shares. Based on an average trading volume of 145,700 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.3% of the shares of the company are sold short.

First Trust NASDAQ Technology Dividend Index Fund Stock Performance

Shares of NASDAQ:TDIV traded down $0.77 during trading on Tuesday, hitting $86.39. 54,394 shares of the stock were exchanged, compared to its average volume of 133,086. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 25.15 and a beta of 1.00. First Trust NASDAQ Technology Dividend Index Fund has a 1-year low of $62.54 and a 1-year high of $87.40. The company's fifty day simple moving average is $77.55 and its 200-day simple moving average is $78.27.

First Trust NASDAQ Technology Dividend Index Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were paid a $0.2703 dividend. This is a boost from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.25%.

Hedge Funds Weigh In On First Trust NASDAQ Technology Dividend Index Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Millstone Evans Group LLC acquired a new position in First Trust NASDAQ Technology Dividend Index Fund in the fourth quarter worth about $28,000. Transce3nd LLC bought a new stake in shares of First Trust NASDAQ Technology Dividend Index Fund in the 4th quarter valued at approximately $36,000. Arlington Trust Co LLC acquired a new position in shares of First Trust NASDAQ Technology Dividend Index Fund in the 1st quarter worth approximately $37,000. Bernard Wealth Management Corp. bought a new position in shares of First Trust NASDAQ Technology Dividend Index Fund during the 4th quarter worth approximately $41,000. Finally, Sound Income Strategies LLC boosted its stake in First Trust NASDAQ Technology Dividend Index Fund by 16,820.0% in the 1st quarter. Sound Income Strategies LLC now owns 846 shares of the company's stock valued at $62,000 after buying an additional 841 shares in the last quarter.

About First Trust NASDAQ Technology Dividend Index Fund

The First Trust NASDAQ Technology Dividend Index Fund (TDIV) is an exchange-traded fund that is based on the NASDAQ Technology Dividend index. The fund tracks a modified dividend-weighted index of US-listed technology companies that pay regular dividends. TDIV was launched on Aug 14, 2012 and is managed by First Trust.